Hidden Bibliographic Details
| Other authors / contributors: | Kirilenko, Andrei.
International Monetary Fund. Monetary and Exchange Affairs Department.
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| ISBN: | 1451894139
9781451894134
128133135X
9781281331359
146233993X
9781462339938
1452768447
9781452768441
9786613778765
6613778761
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| Notes: | Includes bibliographical references (pages 25-27).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | This paper argues that securities transaction taxes "throw sand" not in the wheels, but into the engine of financial markets where the transformation of latent demands into realized transactions takes place. The paper considers the impact of transaction taxes on financial markets in the context of four questions. How important is trading? What causes price volatility? How are prices formed? How valuable is the volume of transactions? The paper concludes that transaction taxes or such equivalents as capital controls can have negative effects on price discovery, volatility, and liquidity and lead to a reduction in the informational efficiency of markets.
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| Other form: | Print version: Habermeier, Karl Friedrich. Securities transaction taxes and financial markets. [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Dept., ©2001
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